https://www.avient.com/sites/default/files/2022-04/Avient Q1 2022 Earnings Release.pdf
Three Months Ended
March 31, 2022
Three Months Ended
March 31, 2021
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income attributable to Avient shareholders $ 84.2 $ 0.91 $ 79.3 $ 0.86
Special items, after tax (Attachment 3) 7.2 0.08 2.6 0.03
Adjusted net income / EPS - excluding special items $ 91.4 $ 0.99 $ 81.9 $ 0.89
6
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
March 31,
2022 2021
Sales $ 1,293.8 $ 1,162.3
Cost of sales 1,000.1 859.9
Gross margin 293.7 302.4
Selling and administrative expense 165.1 182.0
Operating income 128.6 120.4
Interest expense, net (16.9) (19.3)
Other (expense) income, net (0.6) 1.5
Income before income taxes 111.1 102.6
Income taxes (26.6) (22.9)
Net income 84.5 79.7
Net income attributable to noncontrolling interests (0.3) (0.4)
Net income attributable to Avient shareholders $ 84.2 $ 79.3
Earnings per share attributable to Avient common shareholders - Basic $ 0.92 $ 0.87
Earnings per share attributable to Avient common shareholders - Diluted $ 0.91 $ 0.86
Cash dividends declared per share of common stock $ 0.2375 $ 0.2125
Weighted-average shares used to compute earnings per common share:
Basic 91.5 91.3
Diluted 92.3 92.2
7
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1) Three Months Ended
March 31,
2022 2021
Cost of sales:
Restructuring costs, including accelerated depreciation and amortization $ (4.4) $ (1.8)
Environmental remediation costs (2.0) (0.5)
Reimbursement of previously incurred environmental costs 0.6 4.5
Impact on cost of sales (5.8) 2.2
Selling and administrative expense:
Restructuring, legal and other 0.9 (1.3)
Acquisition related costs (2.9) (3.3)
Impact on selling and administrative expense (2.0) (4.6)
Impact on operating income (7.8) (2.4)
Other income, net 0.1 —
Impact on income before income taxes (7.7) (2.4)
Income tax benefit on above special items 2.0 0.9
Tax adjustments(2) (1.5) (1.1)
Impact of special items on net income attributable to Avient Shareholders $ (7.2) $ (2.6)
Diluted earnings per common share impact $ (0.08) $ (0.03)
Weighted average shares used to compute adjusted earnings per share:
Diluted 92.3 92.2
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation
costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the
divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales or disposals; results
of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the
performance period; one-time, non-recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting
reported results
https://www.avient.com/sites/default/files/2021-06/fl.datasheet-pultrusion.pdf
It is the Buyer’s responsibility to determine if this product is appropriate for the Buyer’s use and to ensure that the Buyer’s workplace
and disposal practices are in compliance with applicable laws and regulations.
https://www.avient.com/sites/default/files/2025-01/ISCC Certificate Luxembourg%2C France.pdf
For circular raw
materials, the voluntary information about PIR (post-industrial recycling) or PCR (post-consumer recycling) material can be
stated in brackets.
3) Farm Sustainability Assessment (FSA) was developed by the Sustainable Agriculture Initiative (SAI)
SAI Gold Compliance: ISCC Compliant can be claimed as “SAI FSA 3.0 Gold Level Equivalence”
4) FEFAC: European Feed Manufacturers’ Federation.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for the United Arab Emirates.pdf
Buyer assumes
all risks and liabilities (i) arising out of unloading, discharge, storage,
handling and use of the Product, or (ii) arising out of compliance or non-
compliance with federal, state, provincial, or local laws and regulations
governing or controlling such activity.
Re-Sale and Re-Export; Compliance with Laws.
Buyer shall be exclusively responsible for (i)
ensuring compliance with all Laws and Standards associated with its
intended use of Product; and (ii) obtaining all necessary approvals, permits
or clearances for such use.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Slovakia.pdf
Buyer assumes all risks and liabilities (i) arising
out of unloading, discharge, storage, handling and use of
the Product, or (ii) arising out of compliance or non-
compliance with federal, state, provincial, or local laws
and regulations governing or controlling such activity.
Re-Sale and Re-Export; Compliance with Laws.
Buyer shall be exclusively responsible for (i) ensuring
compliance with all Laws and Standards associated with
its intended use of Product; and (ii) obtaining all necessary
approvals, permits or clearances for such use.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Pakistan.pdf
Buyer
assumes all risks and liabilities (i) arising out of unloading,
discharge, storage, handling and use of the Product, or (ii) arising
out of compliance or non-compliance with federal, state, provincial,
or local laws and regulations governing or controlling such activity.
Re-Sale and Re-Export; Compliance with Laws.
Buyer shall be exclusively responsible for (i) ensuring
compliance with all Laws and Standards associated with its
intended use of Product; and (ii) obtaining all necessary approvals,
permits or clearances for such use.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Spain.pdf
Seller warrants good and
clear title in goods subject to the sale (“Product”) and that
the Product conforms at the time of shipment to a
Certificate of Analysis, a Certificate of Compliance, or a
Product Specification Sheet, if any such document exists,
and other specifications signed by Seller
(“Specifications”).
Re-Sale and Re-Export; Compliance with Laws.
Buyer shall be exclusively responsible for (i) ensuring
compliance with all Laws and Standards associated with its
intended use of Product; and (ii) obtaining all necessary
approvals, permits or clearances for such use.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Argentina %28English and Spanish Translation%29.pdf
El Comprador asume todos los
unloading, discharge, storage, handling and use of the Product,
or (ii) arising out of compliance or non-compliance with
federal, state, provincial, or local laws and regulations
governing or controlling such activity.
Re-Sale and Re-Export; Compliance with Laws.
Buyer shall be
exclusively responsible for (i) ensuring compliance with all
Laws and Standards associated with its intended use of
Product; and (ii) obtaining all necessary approvals, permits or
clearances for such use.
https://www.avient.com/sites/default/files/2024-09/Terms and Conditions of Sale for Poland.pdf
Buyer assumes all risks and liabilities
(i) arising out of unloading, discharge, storage, handling
and use of the Product, or (ii) arising out of compliance or
non-compliance with federal, state, provincial, or local
laws and regulations governing or controlling such
activity.
Re-Sale and Re-Export; Compliance with Laws.
Buyer shall be exclusively responsible for (i) ensuring
compliance with all Laws and Standards associated with
its intended use of Product; and (ii) obtaining all necessary
approvals, permits or clearances for such use.
https://www.avient.com/sites/default/files/2022-05/Compensation Committee Charter (REV 10-2019).pdf
Oversee Regulatory Compliance; Governance
In consultation with appropriate officers of the Company, oversee regulatory compliance
with respect to compensation matters, including with respect to applicable tax laws